COMMERCIAL GROWTH IN MT GRAVATT

A RAY White commercial property franchisee has given a vote of confidence in the area surrounding Upper Mount Gravatt, with a new 162sqm office on 2020 Logan Road.

The office is run by principals Deepen Khagram and Shamir Patel (pictured), who will cover a wide range of practice areas with particular focus on industrial and commercial property.

“We cut the premises back to the core shell and did a brand new fit-out, and we do commercial sales, leasing and property management,” says Khagram.

“The types of businesses we will focus on include retail, warehouse, office, showroom, industrial, development sites, child care centres and service station.

“We see quite a lot of value in the catchment area as Mount Gravatt is close to the CBD, the industrial belt of Coopers Plains and Moorooka, and to the east in Mansfield.”

Khagram says the new office picked up 20 listings in its first few weeks of operation.

“There are a lot of new opportunities in the office environment, as well as the industrial environment and we’re getting a lot of inquiry for freehold land proposed for sale in the Mount Gravatt area,” he says.

“Buyers are being a bit harder than they used to be as far as expectations on yields and there are quite genuine sellers – it’s a tough market but we’re on the right track and we expect that to continue.

“We created this opportunity to open a new franchise at Upper Mount Gravatt because we believe there is a need for a major commercial property business in this area.”

Khagram and Patel both hold masters degrees in business administration, with combined experience owning petrol stations and running national child care centres.